Stocks Closed Lower on Earnings and Economic Data

U.S. stocks closed lower Tuesday, marking the seventh straight daily loss for the Dow industrials , as investors sifted through quarterly results as well as data on personal income and inflation.
The Dow Jones Industrial Average fell 90.74 points, or 0.49%, to 18,313.77. The S&P 500 settled with a loss of 13.81 points, or 0.64%, to 2,157.03. The Nasdaq Composite dropped 46.46 points, or 0.90% to 5,137.73.

Tableau Software Inc. (DATA) reported adjusted earnings of $300,000, or break-even a share, on revenue of $198.5 million.

Fitbit Inc. (FIT) beat second-quarter earnings expectations. Fitbit reported net income of $6.3 million, or 3 cents per share, down from $17.7 million, or 7 cents per share in the year-earlier period. Revenue was $587 million, up from $400 million in the year-earlier period.

Oil futures failed to hang on to an early bounce Tuesday, with the U.S. benchmark finishing below $40 a barrel for the first time since early April as traders await supply data amid continued concern about a global crude glut. Light, sweet crude futures for delivery in September settled with a loss of 55 cents, or 1.4%, at $39.51—its lowest close since April 7.

Biotechnology giant Biogen Inc. has drawn takeover interest from drug companies including Merck & Co. and Allergan PLC, raising the possibility of another huge deal in the health-care industry.